Latex Medical Disposables Market Size

Latex Medical Disposables Market Analysis

The latex medical disposables market is projected to register a CAGR of 5.1% during the forecast period.

The COVID-19 pandemic has been continuing to transform the growth of various markets, the immediate impact of the outbreak is varied. While a few industries registered a drop in demand, numerous other markets may continue to remain unscathed and show promising growth opportunities. The market for latex medical disposable is witnessing a strong growth due to the COVID-19 outbreak. Additionally, the demand for medical disposables products has increased rapidly across the world. However, initially supply chain issues were being observed. The supply availability has been hampered by several issues, including export and travel restrictions by some producing countries and lockdowns that have forced suppliers to (temporarily) shut down. However, to meet the increasing demand, manufacturers have increased their production to supply the essentials. In March 2020, Top Glove Corporation increased the production and sales of medical gloves. Additionally, in September 2020, the two business partners, Mr.Tanatdaj Sillapavitsawakul and Mr.Rujipart Tanapattarachaitat, have launched QB Medical to supply several types of medical gloves.

Some of the factors driving the latex medical disposables market are the increasing prevalence of lifestyle-associated and other chronic diseases and the growing number of baby boomers. As per the World Health Organization 2018, the chronic disorder is the leading cause of death and disability and the leading driver of the nation’s USD 3.5 trillion in annual health care costs. Additionally, As per the statistics from the World Health Organisation 2018, there was an estimated number of 18.1 million new cancer cases in 2018 across the world, and this number is expected to increase over the forecast period. This factor is expected to augment the demand for related surgeries. The growing geriatric population and increasing awareness of the patient pool regarding the infection prevention control norms are some of the major factors contributing to the growth of the latex medical disposables space.

​Moreover, as per a 2020 report by the American Hospital Association (AHA), in 2018, hospitals recorded a total of 879.6 million outpatient visits.​ These numbers continuously increased over the years, as per the AHA reports. For instance, as per the 2018 report by AHA, there were around 439.86 million outpatient visits in community hospitals in 1996, which increased from nearly 599.55 million by 2006 to 747.09 million in 2016.

Limiting the risk of infection and cross-contamination are a few of the primary aims of healthcare professionals and governments, worldwide. The increasing volume of patient admissions in hospitals, coupled with growing incidences of healthcare-associated infections, is bolstering the market growth. As per the Massachusetts Health & Hospital Association 2018, healthcare-associated infection claims around 7 million people every year, thereby, fueling the growth of the market.

Furthermore, government-enforced mandatory guidelines to improve the quality of patient care are expected to boost the penetration of latex medical disposables in the future. Most medical disposable product manufacturers are using high-quality latex disposables, which are driven by sustainable material, process, and design innovation, resulting in effective product engineering and design.

However, FDA norms to improve the design and safety of reusable medical products may hamper business growth in the future.